USDJPY H1: Bearish CHoCH Confirmed – Riding the Institutional…US Dollar vs. Japanese YenFX:USDJPYCIPHERCHARTAfter a strong bullish rally, USDJPY has shown clear signs of institutional distribution at the top. On the H1 chart, the market structure has officially shifted. The price failed to sustain higher prices and initiated a sharp drop, creating a CHoCH (Change of Character) to the downside. This indicates that the bearish order flow is now stepping in, and we are looking to trade alignment with this macro shift. Technical Analysis & Setup Market Structure: Following consecutive BOS (Break of Structure) to the upside, the recent aggressive sell-off has broken the minor swing low, printing a clear bearish CHoCH. Value Zone (The Entry): The price recently retraced back up into the premium pricing zone to mitigate a fresh H1 FVG (Fair Value Gap) and bearish order block. As seen on the chart, price found immediate resistance here, leaving a solid rejection. Execution: Short entry was triggered at 162.610 upon the mitigation of the FVG. Invalidation (Stop Loss): Stop Loss is placed strictly above the structural swing high at 162.896. If the price breaks this level, the bearish thesis is invalidated. Targets (Take Profit): Our primary target is the major H1 FVG demand zone below around 161.855 - 162.000, which aligns perfectly with the ascending trendline liquidity. Trading Plan Entry: 162.610 Stop Loss: 162.896 Take Profit: 161.855 Risk-to-Reward (R:R): ~2.6R Remember, the market always seeks liquidity. After a long uptrend, retail buyers are still trying to force long positions at the trendline, creating a pool of sell-side liquidity below. The CHoCH + FVG combination is a high-probability setup, but with high-tier USD news on the horizon, risk management is paramount. Move your SL to BE (Breakeven) once price clears the local lows. Good luck, stay disciplined, and protect your capital!